Business Model: Klozee was an online platform which rented out designer apparels. It offered a detailed catalogue of clothes from a number of brands and designers. “Demand was a lot slower than we expected. The idea would have taken a lot of money and investment to scale up. So we decided to shut down in January,” Aman Haji, co-founder, Klozee said.

The Collapse: The platform closed down earlier this month. All the three co-founders have now joined home decor marketplace Livspace. According to their LinkedIn profiles, Haji has joined Livspace’s strategy team, Moona has joined as developer and Jain has been appointed general manager. Four of its 10-member team have been hired by online fashion store Voonik.